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ToenecTSE:1946 -4.66%74 PB Ratio is 1.26 as of Jul. 14, 2026, which is 100% above its 10-year median of 0.63. GuruFocus rates TSE:1946 with a GF Score™ of 74/100 and a GF Value™ of 円1,107.05 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,719 Construction companies, Toenec ranks better than 51.89% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-14), Toenec's share price is 円2085.00. Toenec's Book Value per Share for the quarter that ended in Mar. 2026 was 円1,649.37. Hence, Toenec's PB Ratio of today is 1.26.
The historical rank and industry rank for Toenec's PB Ratio or its related term are showing as below:
TSE:1946'
s PB Ratio Range Over the Past 10 Years
Min: 0.45 Med: 0.63 Max: 1.56
Current: 1.27
During the past 13 years, Toenec's highest PB Ratio was 1.56. The lowest was 0.45. And the median was 0.63.
TSE:1946's PB Ratio is ranked better than 51.89% of 1719
companies
in the Construction industry
Industry Median: 1.32
vs TSE:1946: 1.27
During the past 12 months, Toenec's average Book Value Per Share Growth Rate was 12.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 9.60% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 4.80% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 5.90% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Toenec was 12.30% per year. The lowest was 0.00% per year. And the median was 2.80% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Toenec PB Ratio Related Terms
Toenec PB Ratio Historical Data
* Premium members only.
The historical data trend for Toenec's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Engineering & Construction subindustry, Toenec's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Toenec PB Ratio vs Construction Industry
For the Construction industry and Industrials sector, Toenec's PB Ratio distribution charts can be found below:
* The bar in red indicates where Toenec's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Toenec's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Toenec (TSE:1946) has a PB Ratio of 1.26 as of Jul. 14, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Toenec and its competitors. This is 100% above median its historical median of 0.63. Over the past decade, Toenec's PB Ratio has ranged from 0.45 to 1.56. According to the industry distribution chart, Toenec ranks #827 out of 1719 companies in the Construction industry, placing it in the top 48.1%.
Is Toenec's PB Ratio too high?
Toenec's current PB Ratio of 1.26 is 100% above median its 10-year median of 0.63. Over the past 10 years, this metric has ranged from a low of 0.45 to a high of 1.56. The Construction industry median PB Ratio is 1.32. Toenec's value of 1.26 is 4.5% below this industry median. Based on the distribution chart, Toenec ranks #827 out of 1719 companies in the Construction industry, which is above the industry midpoint. Overall, Toenec has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Toenec's PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, Toenec ranks #827 out of 1719 companies for PB Ratio. This puts Toenec in the upper half of its industry. The industry median PB Ratio is 1.32. Toenec's value of 1.26 is 4.5% below this benchmark. Historically, Toenec's own PB Ratio has ranged from 0.45 to 1.56 over the past decade. While the company's 10-year median is 0.63 vs. the industry median of 1.32, Toenec has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Construction company?
The median PB Ratio among Construction companies is 1.32, based on 1,719 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Toenec's current PB Ratio of 1.26 is 4.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Toenec and its competitors. For the Construction industry, the median PB Ratio is 1.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toenec's current PB Ratio is 1.26, which is 100% above median its own 10-year median of 0.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toenec stock overvalued right now?
Based on GuruFocus' analysis, Toenec (TSE:1946) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,107.05, compared to a current price of 円2,085.00 — trading 88.3% above its estimated fair value. The current PB Ratio is 1.26, which is 100% above median its 10-year median of 0.63 and 4.5% below the Construction industry median of 1.32. Toenec's overall GF Score™ is 74/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Toenec (TSE:1946), the current PB Ratio is 1.26 as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Toenec (TSE:1946) Overvalued in 2026?
Based on GuruFocus' analysis, Toenec stock appears to be overvalued.
The current stock price of 円2,085.00 is trading 88.3% above its estimated GF Value™ of 円1,107.05.
GuruFocus considers Toenec to be Significantly Overvalued.
Key valuation signals for TSE:1946:
PB Ratio: 1.26 (100% above median its 10-year median of 0.63)
GF Value™: 円1,107.05 vs. price of 円2,085.00 (88.3% above fair value)
Industry Position: 4.5% below the Construction median (#827 of 1719)
No single metric tells the full story. See the TSE:1946 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toenec Corp provides engineering and construction services. The company's services include electrical and communications construction, pipe-laying, fire-control system construction, construction and building works, scaffolding, earthworks, and concrete works, road surfacing, painting, waterproofing work, waterworks, steel-structure construction, machinery and tool installation, interior finishing work, cleaning-facility construction, the power generation business, and electrical communication construction. It provides surveying, design, supervision, maintenance, and consultation, research, planning, development services. The company also provides ordinary freight vehicles and dispatching of manpower needed for its services. It also sells, leases and manages real estate properties.
74GF Score
Get the complete analysis for TSE:1946
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